Global Merger Action Slides;
Goldman Sachs Leads Deals

Salomon Smith Barney Catapaults
To Second Place Among Bankers

LONDON -- The value of global merger-and-acquisition activity slumped 26% in 2002, with the number of deals falling 13%, newly released figures show. The U.S. market took a big hit.

The value of announced deals world-wide fell to $1.36 trillion from $1.83 trillion in 2001, with the number of deals falling to 23,059 from 26,358, according to preliminary data from Dealogic, the investment banking research group.